Business
8 financial mistakes to avoid in 2025
8 financial mistakes to avoid in 2025
Managing your money is more crucial than ever as 2025 approaches. Although Nigeria’s economy is unpredictable, you might go from barely making ends meet to actually flourishing by avoiding common financial mistakes.
Here are eight financial mistakes to avoid in 2025.
1. Taking unnecessary loans
Although taking out a loan can seem tempting, doing so can eventually make you take on more debt. High interest rates and undisclosed costs are some of the features of loans, which may quickly add up and make repayments difficult. Before taking out a loan, always consider whether it is necessary and make sure it fits with your financial situation. Consider whether you truly need anything before taking out a loan.
2. Mixing personal and business finances
Combining your personal and business money in a single account could lead to confusion. Keep them separate to ensure transparency and accountability. If your business generates your major income, pay yourself a salary and keep separate accounts for personal and business spending. This can help you keep organised and avoid money problems down the road.
READ ALSO:
- CNPP urges opposition to unite against Tinubu’s second term
- 25-year-old man arrested for allegedly kidnapping minor in Kano
- Protest in Ondo community over plans to impose monarch
3. Investing without proper understanding
Investing is an intelligent way to build wealth, but putting your money in projects you don’t completely understand might cause harm. Whether it’s stocks, real estate, or mutual funds, take the time to study the dangers and benefits while seeking professional counsel. Do not fall into “get-rich-quick” schemes and instead use technology to enhance your knowledge. And, as you invest carefully, avoid making reckless lifestyle decisions that strain your budget. These decisions have the potential to undermine your progress toward financial stability.
4. Confusing saving with investing
Savings accounts provide security and access to funds, but they typically fail to keep up with inflation. Investing, on the other hand, can help you create wealth through earnings that compound. Distribute funds for suitable investment options, such as equities or mutual funds, for long-term goals like retirement or owning a home. Seek advice from financial professionals to create a diverse portfolio.
5. Neglecting an emergency fund
Without an emergency fund, unexpected expenses such as car maintenance, medical expenses, or sudden job losses may arise. These unforeseen expenses might throw you off if you don’t have an emergency fund. Aim to accumulate 12–18 months’ worth of living costs in liquid funds in a different account. Having this reserve will help you feel more at ease and prevent you from depending on loans when things get hard.
READ ALSO:
- Osimhen scores 10th goal as Galatasaray beat Goztepe 2-1
- UN accuses Israel of ceasefire breach
- Fulani herdsmen from Nigeria kill five Cameroonian soldiers, says MP
6. Living pay cheque to pay cheque
If you spend every naira as soon as it arrives, leaving little provision for emergencies or savings, you risk becoming overly reliant on each pay cheque for everyday costs. Identify and reduce nonessential spending, such as eating out or unused subscriptions, and set aside some funds for savings. If possible, search for ways to supplement your income, such as freelancing or converting a pastime into a side hustle.
7. Ignoring budgeting
It’s simple to lose track of your finances without a budget, which can lead to both excessive spending and insufficient savings. Make a thorough budget that breaks down your sources of income so that you can save for fixed costs like your child’s school, a down payment on a home, or retirement while prioritising necessities like rent, food, and medical care. Put your earnings and outlays in writing, then create a strategy that you can follow. Budgeting is about maintaining control, not about limiting oneself.
8. Forgetting about inflation
The money you have now will not purchase as much tomorrow due to inflation. To beat inflation, make sure your money holds its value by investing in assets like stocks or real estate that can grow faster than inflation. Making money work harder is necessary to maintain its worth; simply preserving money is insufficient.
Financial management can be stressful, but avoiding these costly mistakes can help significantly. Financial growth takes time, so be patient with yourself and maintain consistency. In a challenging economy, every wise decision counts. Let 2025 be the year you take control of your finances and begin creating the future you want.
8 financial mistakes to avoid in 2025
![]()
Auto
X90 Plus Leads Jetour’s Abuja Drive for Bigger SUV Market Share
X90 Plus Leads Jetour’s Abuja Drive for Bigger SUV Market Share
Jetour Nigeria is taking its premium SUV battle to Abuja, with the seven-seater X90 Plus set to headline the Jetour Experience Abuja from September 22 to 24, as the automaker moves to capture a larger share of Nigeria’s fast-growing high-end family SUV market.
The three-day motoring showcase will give prospective buyers, families and auto enthusiasts in the Federal Capital Territory and neighbouring states an opportunity to experience the X90 Plus and other models in the Jetour range through test drives and hands-on demonstrations.
The Abuja showcase follows the success of the brand’s earlier Jetour Experience in Lagos, where strong customer interest, inquiries and sales momentum reportedly encouraged the company to take the initiative to the Federal Capital Territory.
Jetour Nigeria said growing demand from customers in Abuja and neighbouring states was a major factor behind the decision to expand the experience to the northern market.
Positioned as a full-sized family SUV, the X90 Plus is designed for executives and families seeking a combination of space, technology, performance and comfort without the price tag associated with some luxury SUVs.
The model is offered with 1.6-litre and 2.0-litre turbocharged engines paired with a seven-speed dual-clutch transmission. The powertrain produces up to 254 horsepower and 390Nm of torque.
Inside the cabin, the X90 Plus features a 12.3-inch LCD touchscreen infotainment system, panoramic sunroof, Sony premium audio system and wireless charging.
Its safety and driver-assistance features include a 360-degree panoramic camera, Forward Collision Warning, Lane Departure Warning and electronic stability systems.
Jetour’s growing profile in Nigeria has also earned the brand recognition from the Nigeria Auto Journalists Association (NAJA), which named it Fastest Growing Auto Brand, while it was also recognised as Auto Brand of the Year at the Nigeria Transport Lecture.
To support its expanding customer base, Jetour Nigeria, the sole authorised distributor, operates through seven accredited dealer partners across the country: Elizade Nigeria Limited, Mandilas Autos, R.T. Briscoe Motors, Germaine Auto Centre, Kojo Motors, Tab Autos Limited and New Era Auto Vehicle Services Limited.
The Abuja Experience is expected to provide Jetour with another platform to engage potential customers and reinforce its position in Nigeria’s increasingly competitive SUV market.
![]()
Business
Dangote raises petrol price 6.7% to N1,350/litre
Dangote raises petrol price 6.7% to N1,350/litre
The Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS), popularly known as petrol, gantry price by 6.7 per cent, raising it from N1,265 to N1,350 per litre, with the new price taking effect from September 12, 2026.
The latest adjustment represents an N85 increase per litre and is the fourth upward review of Dangote Refinery’s petrol price since August 21, further raising concerns about the possible impact on petrol pump prices, transportation costs and the wider cost of living.
The refinery also increased its coastal price from N1,669,543 to N1,783,530 per metric tonne, representing an increase of N113,987, or about 6.8 per cent.
In a memo to customers, Dangote Petroleum Refinery announced the revised prices and directed customers with existing loading arrangements to return their Authority to Collect (ATC) documents for repricing.
The refinery said new volume contracts would subsequently be issued to allow loading to resume under the revised prices.
The latest increase means Dangote’s petrol price has risen by N185 per litre, or about 15.9 per cent, in 22 days.
The refinery had increased its gantry price from N1,165 to N1,185 per litre on August 21. It subsequently raised the price to N1,200 on August 26 and then to N1,265 on August 29, before the latest increase to N1,350.
The development comes amid renewed pressure in the international crude oil market, with Brent crude recently trading above $100 per barrel as geopolitical tensions and disruptions to oil supplies in the Middle East continue to affect global energy markets.
The pressure on global fuel markets is also being felt by refiners and petroleum traders as disruptions to Middle Eastern refining capacity and shipping routes create concerns over the availability of crude and refined petroleum products.
Dangote Refinery’s management recently said global fuel shortages could persist beyond the current Iran conflict because of damage to refining infrastructure, high refinery utilisation rates and the need to rebuild fuel inventories.
READ ALSO:
- Anambra Police Arrest Woman Over Alleged Sexual Abuse of Child, Rescue Four
- MURIC fires back at Peter Obi: Forget Sallah ceremony, free Nigerian Muslims
- Fani-Kayode Condemns Fresh Killing of Two Nigerians in South Africa
For Nigeria, the increase comes as the downstream petroleum market continues to operate under deregulation, meaning petrol prices are largely determined by market conditions rather than a fixed government-controlled price.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) recently identified crude oil sourcing, refinery delivery timelines, imported cargoes, transportation, logistics and taxes among the factors influencing movements in petrol prices.
NMDPRA Head of Public Affairs George Ene-Ita said petrol prices are fully deregulated and therefore exposed to fluctuations across the supply chain.
Consequently, the new Dangote price does not necessarily mean motorists across Nigeria will immediately pay exactly N1,350 per litre at filling stations.
The price consumers pay will depend on the cost at which individual marketers obtain their supplies, transportation and distribution expenses, depot charges, operating costs, location, competition and profit margins.
However, the increase in the refinery’s gantry price is expected to put additional pressure on marketers who source petrol from Dangote Refinery, particularly as they replenish existing stocks.
Recent reports indicate that petrol prices in several parts of the country had already moved higher, with pump prices in some locations reaching the N1,310-N1,350 per litre range before the latest Dangote adjustment.
The latest price review could therefore trigger another round of adjustments by petroleum marketers, especially if the higher wholesale acquisition cost persists.
READ ALSO:
- FG Targets 2 Million Creative Jobs by 2030
- Donnarumma: Two Jailed Over Violent Paris Burglary of Man City Goalkeeper, Wife
- Police Clarify IGP Disu’s Position on Recording Officers
The development is also significant because Dangote Refinery has become an increasingly important source of locally refined petrol as Nigeria seeks to reduce its dependence on imported petroleum products.
The refinery has secured at least 16 million barrels of Nigerian crude for October delivery, equivalent to roughly 520,000 barrels per day, according to Reuters. The purchases represent a substantial portion of the refinery’s current 700,000-barrel-per-day capacity and underline its growing role in Nigeria’s domestic fuel supply.
Despite the increase in petrol prices, Dangote Refinery is pursuing plans to expand its capacity significantly. The company announced a $14.3 billion expansion programme that is expected to increase its processing capacity from about 700,000 barrels per day to 1.4 million barrels per day by 2029.
The refinery is also preparing for a major initial public offering (IPO) aimed at raising about N2.15 trillion, with the offer scheduled to run from September 14 to October 13.
For consumers and businesses, the immediate concern remains the potential effect of the latest petrol price increase on transportation, logistics and the cost of goods and services.
Petrol remains a major input for transportation and commercial activities in Nigeria. Any sustained increase in its price can raise the cost of moving people and goods and increase operating expenses for businesses that depend on petrol-powered vehicles and equipment.
The extent of the impact of the new N1,350 per litre Dangote petrol price, however, will depend on how marketers respond and whether international crude prices remain elevated.
For now, the latest adjustment establishes a higher wholesale benchmark for customers buying petrol from Dangote Refinery, while the retail market is expected to respond according to prevailing supply, distribution and competitive conditions.
Dangote raises petrol price 6.7% to N1,350/litre
![]()
Auto
Jetour Takes Award-Winning Dashing, Other SUVs to Abuja
Jetour Takes Award-Winning Dashing, Other SUVs to Abuja
Motorists in Abuja are set for a close encounter with Jetour’s award-winning Dashing and other models as Jetour Nigeria moves to deepen its foothold in the nation’s capital with the Jetour Experience Abuja, beginning September 22.
The three-day motoring event, which runs until September 24, is expected to draw prospective buyers and automobile enthusiasts to a hands-on experience featuring test drives, product demonstrations and direct engagement with Jetour’s seven authorised dealers and product specialists.
The participating dealer network comprises Elizade Nigeria Limited, Kojo Motors, Mandilas Autos, Germaine Auto Centre, R.T. Briscoe, Tab Autos and New Era Auto Vehicle Services Limited.
READ ALSO:
- Police Arrest Woman Over Alleged Drug Trafficking in Delta
- Dangote raises petrol price 6.7% to N1,350/litre
- Anambra Police Arrest Woman Over Alleged Sexual Abuse of Child, Rescue Four
The Abuja Experience follows the success of the Lagos edition, which attracted thousands of visitors for test drives and direct engagement with product specialists. According to the organisers, strong demand and inquiries from motorists in Abuja and neighbouring states prompted the expansion of the event to the Federal Capital Territory.
The Dashing has gained attention in Nigeria’s competitive compact SUV segment for its combination of modern styling, technology, performance and competitive pricing.
The SUV is available with 1.5-litre and 1.6-litre turbocharged engines, producing up to 145kW of power and 290Nm of torque, paired with six- or seven-speed dual-clutch transmissions.
Its features include a 15.6-inch central touchscreen infotainment system, panoramic sunroof, wireless charging and smartphone integration.
For safety, the vehicle comes with a 360-degree surround-view camera, automatic emergency braking, lane departure warning, blind-spot detection and multiple airbags.
Beyond vehicle sales, the authorised dealers provide warranty, genuine spare parts and after-sales support to Jetour customers across their respective locations.
The Abuja Experience is expected to strengthen customer engagement and give motorists in the FCT a closer look at Jetour’s growing range of vehicles, while further expanding the brand’s footprint in the northern market.
Jetour Takes Award-Winning Dashing, Other SUVs to Abuja
![]()
-
metro3 days agoWoman disguises as Muslim woman in Niqab to steal in Ado-Ekiti market, video sparks outrage
-
metro2 days agoOndo Herbal Drink Tragedy: Survivor Vows Never to Drink Again as Death Toll Tops 30
-
metro2 days agoSokoto Cleric Stabbed Twice in Neck After Juma’at Prayer, Attacker Killed
-
Africa3 days agoMurder of Nigerian Bishop in South Africa Sparks Outcry Over Unsolved Killings
-
Business2 days agoDangote: ₦525 Refinery Shares Could Rise to ₦10,000
-
metro2 days agoMURIC fires back at Peter Obi: Forget Sallah ceremony, free Nigerian Muslims
-
Community3 days agoKaduna Traditional Rulers Set for 100% Pay Rise as Zazzau Emir Backs Proposal
-
News3 days agoAI on the Roads: LASTMA Turns to China to Fix Lagos Traffic
